Wednesday, September 17, 2008

Need 9/11-like Commission? Not Really...

Regardless what the Republican Presidential candidate says, we don't need a 9/11-like commission to get to the bottom of the current financial crisis. It's pretty clear what's driving this meltdown:

And, there's plenty of blame to go around:

Key quote here is:
Both Republicans and Democrats in Washington ended up "supporting deregulation, even as newly minted but little-understood products like derivatives proliferated."

Add to this our government's inclination (and bad habit) of printing money to try to pay for things. Our balance sheets are getting trashed--plain and simple. The dollar continues to lose value. And, it all comes down to bad policies by our government. Unfortunately, we (the taxpayers) are going to have to pay for this. Great... Sounds like the answer to the question: How to move from a government surplus to a humongous national debt and global economic crisis in eight years, or less. 

1 comment:

  1. We think too much alike on current events! Nice post. And I tagged you over on my blog. If you're interested in playing along you can check it out there. My feelings won't be hurt if you don't have any interest, though! :)